Develop a linear equation that can be used to describe how, Ask an Expert

Economics

The following data shows the retail price for 12 randomly selected laptop computers along with their corresponding processor speeds.

computers speed price $

1 2 2,689

2 1.6 1,229

3 1.6 1,419

4 1.8 2,589

5 2 2,849

6 1.2 1,349

7 2 2,929

8 1.6 1,849

9 2 2,819

10 1.6 2,669

11 1 1,249

12 1.4 1,159

a. Develop a linear equation that can be used to describe how the price depends on the processor speed.

b. Based on your regression equation, is there one machine that seems particularly over- or underpriced?

c. Compute the correlation coefficient between the two variables. At the .05 significance level conduct a test of hypothesis to determine if the population correlation could be greater than zero.

d. Draw a box plot reflecting how the price depends on the processor speed.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M969559

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